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Refer to our incremental guide and understand the process of payments & withdrawals at the best bitcoin casinos.
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Payment and withdrawal procedures play a substantial role in determining the success & authenticity of online casinos. The severity of payment techniques might not be the thought that strikes at the earliest, but their significance concerning online casinos in India cannot be disregarded. Initially, the most common methods of payment known to the Indian players were debit & credit cards. However, the evolution taking place in the dynamic of the gaming arena has introduced a currency that is striking the right chords for everyone. Yes- we are talking about Bitcoin. The rise in the utility of Bitcoin instantly gave rise to Bitcoin live casinos.
Bitcoin, the first cryptocurrency, came into existence in 2009 intending to draw out the role of government or financial institutions to make any kind of financial transactions. As per the analysis, it can be appropriately gathered that online businesses are recognizing cryptocurrencies as one of the feasible & safe payment options. It has been observed that online casinos are amidst the top websites that are open to bitcoin transactions. As far as the question of security is concerned, it has been noted that transactions at best bitcoin casinos online are exceptionally
secure owing to levels of encryptions & attestations that take place throughout the procedure. Therefore, it is very difficult to conduct deceitful bitcoin transactions and there is no option of chargeback with bitcoin casinos.
No deposit bitcoin casinos substantiate that these transactions are unnamed and do not incorporate any kind of personal or financial information. Therefore, it can be inferred that players cannot link their wallets, debit & credit cards with the rest of the funds in participation with bitcoin casinos.
Best bitcoin online casinos also make things uncomplicated for the players in countries where online casino games are not supported.
Although, there has been a significant increase in the number of bitcoin casinos in India it is recommended that you go through the list of pros and cons beforehand to make an informed decision.
Pros
Cons
Employing Bitcoins to make payments and depositions at bitcoin casinos can be a little puzzling for a beginner. Your crypto wallet as well as the firm/individual to whom the payment is being made is accompanied by numerous letters & numbers. To make bitcoin deposits to an online bitcoin casino you must know these letters & numbers backward. We have put forward a list of steps that you can follow while making deposits at any bitcoin casino:
A bulk of bitcoin casinos will provide you with an option to withdraw your earnings only if you are using the deposit method.
Once the above-mentioned steps are followed, you just have to wait for your funds to reach your account. Sometimes they reach instantly and at other times you might have to wait up to a day. It is recommended to go through withdrawal conditions of the site that you have considered.
Fees
There is minimum deposit & withdrawal amount applicable but zero withdrawal fees charged for Bitcoin casinos.
Deposit & Withdrawal Timesat Bitcoin Casinos
Deposit: Mostly the deposits are processed instantly. However, there are chances of deposits getting postponed due to third-party services like e-wallets, exchanges, etc which are deducted from the private account and are not reflected in the blockchain for a few hours.
Withdrawal:Bitcoin casino sites let you withdraw your winnings almost instantly. The longest time a withdrawal takes to process is 10 minutes.
One cannot directly transfer money from an Indian Bank account to their Bitcoin wallet to make the payments at bitcoin casinos. This is particularly because the wallet only bears & sustains BTC & BCH and not the government of other cryptocurrencies. However, you can make use of a bank wire to get inexpensive exchange rates. Check out the step-by-step guide we have created to make it easier for you to comprehend:
It is recommended to purchase Bitcoins using a bank account, especially if you want to buy large amounts of Bitcoins & you don’t have credit/debit cards. Also, procuring Bitcoins with bank accounts does not involve risk and the fee is remarkably less. Not to forget, the buying limits are higher in the case of bank transfers in comparison to credit/debit cards.
Indian Banks that Accept Allow Payments via Bitcoin
As per the report published by Economic Times, some Indian banks allow the purchase of Bitcoin and are relieving the past restraints on such services. As per the long-established crypto exchange Wazir-ex, the following banks are open to payments for crypto purchases.
Although many banks can be seen softening their standpoint on cryptocurrencies, that doesn’t mean things are fully on course.
Joining a Bitcoin casino is easier than you have imagined but if you are a beginner you need to understand the process. Gauge through the list of steps we have created for you below:
It is of utmost importance that you choose a licensed and regulated bitcoin casino comprising top games & abundance of fair bonuses that are easy to claim.
Once you find a bitcoin casino to invest in, open the homepage and click on the signup button. You will be able to spot an e-form. Fill in all the details correctly and make sure you read all the terms & conditions.
Once you have submitted the form, you will receive a confirmation email. This email is sent with the purpose of verification of your recently created account. All you have to do is open that e-mail and click on verify.
Once account verification is done, return to the homepage of the bitcoin casino you have selected. You will receive a sign-in bonus depending upon the terms & conditions of the chosen casino. In the case where you have not received a sign-on bonus, you will have to top up your account.
To add money to your account, scroll down to the cashier’s page. You will be able to spot this under settings. Choose Bitcoin as your deposit option. Add the casino’s address to your Bitcoin wallet transfer section & add the amount you wish to deposit. Your amount will reflect in your casino account in just 15 minutes.
That’s it!! You have signed up and are now ready to play. Also, once you deposit, you will receive your welcome bonus. You might have to add some promo codes to claim that bonus.
Not always. As Bitcoin can be purchased peer-to-peer on the Internet without the involvement of banks or any third party for that matter which insinuates that there is no processing fee charged. Although, this might vary depending upon the casino you choose.
Absolutely!! Right now there are numerous Bitcoin live casinos that put forward a distinctive amalgamation of games like Blackjack, Roulette, etc. for Bitcoin users.
Yes, Bitcoin transactions are speedier in comparison to fiat currencies. The transactions in dollars’ take at least 24 hours but for Bitcoin, it takes less than an hour.
A player must withdraw no less than 0.001 bitcoin to make a withdrawal using Standard withdrawal speed. In the case where the player has chosen the Rush & Priority withdrawal, one has to withdraw 0.00005 bitcoin minimum withdrawal amount.
It takes 10 minutes for a BTC transaction to get processed in the best bitcoin online casinos.
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